The Financial Accounting Standards Board voted to add a project to its technical agenda on accounting for financial instruments with environmental, social and governance-linked features and regulatory credits. During a meeting last Wednesday, FASB discussed the research its staff had done on items to add to its agenda after a consultation with stakeholders last year.
Month: May 2022
To ensure the functioning of its internal market, the European Union (EU) sets a minimum excise duty on cigarettes. It consists of a specific component and an ad valorem component, resulting in a minimum overall excise duty of €1.80 (US $2.13) per 20-cigarette pack and 60 percent of an EU country’s weighted average retail selling price
Over the past decade, the state tax landscape has grown increasingly competitive as policymakers have sought to attract investment and promote economic opportunity and growth in their states. The past two years in particular have seen an extraordinary increase in tax reform efforts, given states’ strong revenue growth despite the pandemic and policymakers’ desire to
A customer pumps gas into their car at a gas station on May 18, 2022 in Petaluma, California. Justin Sullivan | Getty Images Americans’ finances are being squeezed as inflation pushes up prices on things such as rent, groceries and gasoline. As a result, one-quarter of Americans will have to delay their retirement, according to
Roman Kepczyk, director of firm technology strategy for Right Networks, is very excited about the new ways businesses are leveraging bots and other tools typically associated with artificial intelligence, but with the caveat that these programs are only as smart as the people who make them. Today, even small businesses today can now employ very
valentinrussanov | E+ | Getty Images The housing market is hot right now — if you’re a seller. Buyers, on the flip side, are having a harder time finding homes. Americans are aware of the struggles they face in buying a home. More than 70% of U.S. adults believe the housing market is currently in
Last week I read that a Black accountant was appointed as managing partner of a Top 50 CPA firm, and another was chosen as chairperson of the AICPA Private Companies Practice Section executive committee. At that same time, I read a firm’s announcement of a new group of summer interns and saw that no one
William_potter | Istock | Getty Images With the stock market getting volatile but the housing market still hot, reverse mortgages have become a more attractive tool for older Americans who need cash for retirement but want to stay in their homes. Home Equity Conversion Mortgage loan volume was up 26% in March, according to data
If you buy something through our links, we may earn money from our affiliate partners. Learn more. In the aftermath of the pandemic, companies have learned to adapt and grow the concept of a flexible workforce. Remote work is now being practiced in most of the world. And Virtual assistant services have seen a growing
The Internal Revenue Service has updated its frequently asked questions page on the 2021 Earned Income Tax Credit, with new information on using prior tax years to calculate the EITC. In 2021, more people without children were able to qualify for the EITC, thanks to a provision in the American Rescue Plan Act. In addition,
Jake and Deborah Anderson-Bialis, pictured with their children, started fertility education site FertilityIQ after spending about $70,000 to have their children. Melissa Schmidt, FertilityIQ’ As employers try to entice new workers and keep the ones they have, more are turning to fertility benefits. In fact, the trend has been moving upward for the past couple
When the U.S. Supreme Court’s 2013 United States v. Windsor ruling granted married same-sex partners federal benefits for the first time, Rosalind Sutch sprang into action. A shareholder (and now chief growth officer) at Philadelphia-based Regional Leader firm Drucker & Scaccetti, Sutch envisioned offering a valuable service. “I went to my partners and made a
Fertnig | E+ | Getty Images Death and taxes are two certainties in life, as the saying goes. But many people may not realize their Social Security benefits they receive from the government are also subject to taxes. The way in which those levies are applied is unique. A recent MassMutual quiz found just 42%
Accounting software provider Sage announced its first global marketing campaign since its rebranding in April. The campaign focuses on real-life customers to emphasize the company’s support for small and midsized entities. … Cloud software company Bill.com announced the winners of its award and business development program “Grow.” Twenty winners were chosen from 31,000 applicants, who
Courtneyk | E+ | Getty Images More than $163 billion in benefits likely leaked from the unemployment system during the pandemic, with a “significant portion” attributable to fraud, according to a U.S. Department of Labor report. Congress created many new programs in March 2020 to support millions of people who lost their jobs from the
Leadership is often thought of as only for the service and C-suite levels in the accounting profession. However, I see leadership going well beyond these levels over the next decade for many reasons. This is an accelerated extension of leadership and what has occurred at leading firms for over a decade. Professionally, we are experiencing
Prathanchorruangsak | Istock | Getty Images Whether you’re a current employee or changing jobs, you may need to choose between pre-tax and Roth 401(k) contributions, and it may be trickier than you expect. Here’s the difference: Pre-tax 401(k) deposits reduce your adjusted gross income, and the money grows tax-deferred, meaning you’ll pay levies on withdrawals.
Did you ever have one of those days at work? We’ve all been there when we can’t figure out if it’s Murphy’s Law or if we were born under a bad sign. Sometimes all you can do is laugh. It’s no wonder why #workfails is always popular across so many social media platforms. Small business
The Great Resignation, COVID-19 pandemic and economic uncertainty are transforming the marketplace and forcing companies to continue to adapt. Among these changes is the shifting relationship between employers and employees, who are now expecting much more when it comes to flexibility, career pathing, total rewards, and corporate culture. Adding to the complexity is the disproportionate
Bloomberg | Bloomberg | Getty Images One of the best car-shopping weekends pre-pandemic is more of a dud these days. Amid the auto industry’s manufacturing challenges due to persisting supply-chain issues, Memorial Day sales are generally minimal to nonexistent this year. “It’s looking pretty bleak, to be straightforward about it,” said Ivan Drury, senior manager
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